Amogy, a global provider of ammonia-to-power solutions, has secured an additional $23 million in venture financing to advance its stationary power generation systems and expand into the Asian market. This investment, co-led by Korea Development Bank, marks a total fundraising of nearly $300 million for Amogy. The company, headquartered in Brooklyn, New York, has showcased its carbon-free, ammonia-powered maritime vessel and is now focusing on partnerships within the maritime industry. Amogy's technology is also being applied in stationary power generation, with recent collaborations including a project in South Korea's city of Pohang for a clean, ammonia-fueled distributed power generation system. The CEO, Seonghoon Woo, emphasized the broad applications of ammonia as a clean fuel and noted its relevance in the hydrogen-based economy, particularly in Asia. The company's ammonia cracking technology is mature, scalable, and efficient, positioning ammonia as a leading zero-carbon fuel solution in markets like South Korea and Japan, which are actively seeking clean energy alternatives due to limited fossil fuel reserves. Amogy's growth trajectory is supported by investors like Korea Development Bank, reflecting confidence in the company's vision. Additionally, policies in South Korea, such as the Clean Hydrogen Portfolio Standard and Distributed Energy Act, are driving the adoption of hydrogen and ammonia for electricity generation. Amogy's innovative solutions contribute to decarbonizing sectors like maritime shipping, power generation, and heavy industry.